As creatives, we are never good at just one thing. You have probably also heard this referred to as multi-passionate. The great thing about having so many interests is that creativity feeds creativity even when they are different disciplines. I love switching from the structure of web design to the freedom of abstract painting. I love painting and I always get ideas for colors and patterns that I can use in my print and web work.
The only hiccup is that this can make it hard to choose which direction to go in when starting a business. When you are good at web design, illustrations, and sewing, how do you pick? Most people can’t choose and try each one or all at once.
Trying each one is a great way to decide where to put your energy. You may find out you don’t enjoy the business side or can’t make a profit with one of your passions and decide to keep it a hobby. You can dip your toe in and see if it’s a good fit for you before you invest a lot of time and energy.
If you choose to open multiple businesses, choose one to put all of your focus on first. Then, once you have that one business running smoothly and making you an income, take everything you learned and apply it to starting your second business. Jasmine Star and Jenna Kutcher are two examples of people who were really successful as photographers before they launched a second business as coaches and educators. Their strategy works because the businesses are related and they used the success of one to launch the other.
Another option is choosing one idea to be your main source of income and your second (or third, or fourth) passion for becoming a passive source of income. For example, you could pursue your passion for teaching with an e-course or you could take your hobby of watercolor and sell prints online.
These are some questions to ask yourself when it comes to turning an idea into a business.
1. Is there a market for my product or service? It is much easier to sell people who need and want what you have than convincing people to want and need what you have.
2. Can I make this product or provide this service for a profit? You have to get real with your numbers, especially with products. Figure out how long it takes you to make a product or do the service, plus how much your materials cost. If you have a product and you want to offer wholesale, you will have to account for making a profit after you sell for 50% off.
3. Where do you want this business to go? You want to look into the future and predict if this is a business that could scale. If you sell art prints, could you grow your sales by offering other products? If you offer services, could you grow your biz by offering products?